It’s that time of year again, the end of the fiscal year and time for reallocation of program funding for the USDA Guaranteed Rural Housing Program. Each year during this time of year, several banks and mortgage companies throw the switch on their USDA Guaranteed Rural Housing Program, pulling all fundings on this program until Congress allocates the funding for the next year.

Not all banks do this, though! If you are in the midst of a transaction using USDA Guaranteed Rural Housing program funds, you need to contact your lender and make sure the conditional commitment has been issued by your local USDA office before September 30, 2009. If you don’t get a straight answer or immediate response, chances are good your loan may not fund.

This happens EVERY YEAR! There are banks that understand this, and will continue to fund USDA Guaranteed Rural Housing loans, and I work with these banks. If you are purchasing a home here in Southern Oregon/Northern California and wish to use this great home loan program, call me! For us, it’s Business As Usual vs. “Here We Go Again”.

See you at the closing table!